Topic: OneTRADEx
Grand Court approves US$3.8 million payment in OneTRADEx liquidation cost dispute
The Grand Court has sided with the provisional liquidator of OneTRADEx in a dispute over spiralling fees and how much of the US$3.8 million in claimed liquidation costs should be paid out of the assets of the broker’s clients.
OneTRADEx clients told to expect a loss
Clients and creditors of discount broker OneTRADEx, which was put into provisional liquidation last week, heard they should expect to lose “less than 10%” of their trade account holdings at a liquidation meeting on Tuesday.
Controllers find ‘serious’ regulatory breaches at OneTRADEx
Cayman discount broker OneTRADEx has been placed into provisional liquidation following a court hearing on Tuesday, 3 Sept. The primary purpose of the provisional liquidation is to facilitate the sale of certain parts of the business that the company has with Interactive Brokers.
Broker’s clients concerned controller fees will eat into their assets
Clients of Cayman broker OneTRADEx have expressed concern that the fees charged by the Cayman Islands Monetary Authority-appointed controllers of the business may exceed any cash reserves and assets the company has and would have to be covered by client funds.
